Responses to the Coup d'etat in Honduras on Sunday June 28, with special emphasis on producing English-language versions of commentaries by Honduran scholars and editorial writers and addressing the confusion encouraged by lack of basic knowledge about Honduras.

Monday, November 2, 2009

BID says "Not So Fast"

ANDI, the National Association of Industries of Honduras, through its president, Adolfo Facussé has insisted that the World Bank, the Interamerican Development Bank (BID in Spanish), the International Monetary Fund, and the Central American Bank of Economic Integration cease their financial blockade of Honduras and return to funding their commitments in Honduras as soon as possible. He said that in his meeting with Thomas Shannon, he was assured that everything would return to the way it was before June 28.

The director of the Interamerican Development Bank said that funding would return once the crisis was over. "As they go about complying with the Accord, we will go about regularizing our relations with Honduras," said Luis Alberto Moreno, BID Director. Less than half of BID's planned funding for Honduras for 2009 had been released when the coup happened.

In other economic news, AmilcarBulnes, said they shouldn't mix politics and business. Honduras has to determine if it remains in Petrocaribe. Its participation was unilaterally severed on June 28 by Venezuela.

The head of the Social Forum on External Debt (FOSDEH), Mauricio Diaz, complained that Zelaya had over-relied on funding from ALBA and Petrocaribe rather than negotiating an agreement with the IMF. However, Honduran economists have pointed out that that decision was better for the financial stability of the lempira, and resulted in a good business environment until the world economy crashed.